KARACHI: MCC Appraisement East has issued an Assessment Alert pertaining to assessment of tyre scrap under HS Code 4004.0020.
Collector Appraisement East Aamir Thaim instructed Assistant Collector Sardar Amin Faroqui to issue the alert, which noted that tyre scrap cut into 2 or 3 pcs falling under HS Code 4004.0020 is being cleared by various importers from different origins at grossly under invoice value ranging between $0.03/kg to $0.04/kg. Accordingly an exercise was conducted to ascertain fair value of the subject goods which revealed that actual minimum value of said item should be $0.07/kg.
To eliminate chances of any mis-declaration of value and maintain the uniform assessment it has been decided that the assessment of tyre scrap cut into 2 or 3 pcs should not be less than $0.07/kg.